Sunset Strip | Aussie market started negative and remained there with lack of any real sentiment while a few big block trades moved the dynamics towards more...

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market started negative and remained there with lack of any real sentiment while a few big block trades moved the dynamics towards more sellers than buyers. Short covering will continue to pop stocks higher. One to keep an eye on with similar potential to pop on short covering is WOW tomorrow. WOW is expected to announce its result on Friday after announcing an online tie-up with eBay. It has over 5% shorts and any decent result will see atleast a big part of that being covered. NEC followed the common path and announced a decent buy back and squeezed the shorts to pop the share price. ALU had a cracker result and will see more upside. ABC was solid but with housing worries, it's beginning to look stretched. FLT is still flying on short covering and will see a bit more upside. Out of the stocks that got belted today, ARF looks a good commercial property play on growth and yield. (VIEW LINK)


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Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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